BIOPHAN TO ACQUIRE RIGHTS TO PROPRIETARY CARDIAC ASSIST DEVICE TECHNOLOGY DEVELOPED BY MYOTECH, LLC

Biophan Technologies, Inc. (OTCBB:BIPH - News), a developer of next-generation biomedical technology, announced Tuesday that it has entered into a Letter of Intent with MYOTECH to direct the development, regulatory approval, and marketing of MYOTECH's MYO-VAD™ cardiac assist technology. Under the terms of the Letter, Biophan will also direct all future MYOTECH development programs. In addition, Biophan has acquired a substantial minority interest with the right to acquire a controlling interest in MYOTECH. This relationship will enable MYOTECH to accelerate the development of all of its proprietary cardiac assist technologies for introduction into the fast-growing $28 billion worldwide market opportunity for cardiac devices.
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